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Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2020
Document And Entity Information [Abstract]
Document Type	6-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	ICON plc
Entity Central Index Key	0001060955
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 482,372	$ 520,309
Available for sale investments	1,727	49,628
Accounts receivable, net of allowance for credit losses	525,642	527,708
Unbilled revenue	446,465	422,769
Other receivables	32,502	39,290
Prepayments and other current assets	41,981	41,517
Income taxes receivable	24,866	23,759
Total current assets	1,555,555	1,624,980
Other Assets:
Property, plant and equipment, net	162,840	165,087
Goodwill	893,033	883,170
Operating right-of-use assets	99,251	104,977
Other non-current assets	14,934	17,439
Non-current income taxes receivable	12,090	17,230
Non-current deferred tax asset	14,927	16,682
Investments in equity-long term	10,040	10,053
Intangible assets	78,662	67,894
Total Assets	2,841,332	2,907,512
Current Liabilities:
Accounts payable	23,332	24,050
Unearned revenue	386,242	366,988
Other liabilities	435,862	378,543
Income taxes payable	14,059	12,031
Current bank credit lines and loan facilities	349,734	349,640
Total current liabilities	1,209,229	1,131,252
Other Liabilities:
Non-current operating lease liabilities	74,759	76,593
Non-current other liabilities	16,069	17,512
Non-current government grants	789	813
Non-current income taxes payable	15,275	14,301
Non-current deferred tax liability	11,359	9,476
Commitments and contingencies	0	0
Total Liabilities	1,327,480	1,249,947
Shareholders' Equity:
Ordinary shares, par value 6 euro cents per share; 100,000,000 shares authorized, 52,508,751 shares issued and outstanding at March 31, 2020 and 53,622,206 shares issued and outstanding at December 31, 2019	4,561	4,635
Additional paid‑in capital	584,852	577,961
Other undenominated capital	1,134	1,052
Accumulated other comprehensive income	(98,955)	(75,819)
Retained earnings	1,022,260	1,110,226
Total Shareholders' Equity	1,513,852	1,618,055
Redeemable noncontrolling interest	0	39,510
Total Shareholders' Equity and Redeemable Noncontrolling Interest	1,513,852	1,657,565
Total Liabilities and Shareholders' Equity and Redeemable Noncontrolling Interest	$ 2,841,332	$ 2,907,512

Condensed Consolidated Balance Sheets (Parenthetical) - € / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Ordinary shares, par value (in EUR per share)	€ 0.06	€ 0.06
Ordinary shares, shares authorized (in shares)	100,000,000	100,000,000
Ordinary shares, shares issued (in shares)	52,508,751	53,622,206
Ordinary shares, shares outstanding (in shares)	52,508,751	53,622,206

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 715,102	$ 674,852
Costs and expenses:
Direct costs	505,293	475,497
Selling, general and administrative expense	87,196	81,912
Depreciation and amortization	16,322	15,497
Total costs and expenses	608,811	572,906
Income from operations	106,291	101,946
Interest income	1,809	1,745
Interest expense	(3,181)	(3,354)
Income before provision for income taxes	104,919	100,337
Provision for income taxes	(12,590)	(12,040)
Net income	92,329	88,297
Net income attributable to noncontrolling interest	(633)	0
Net income attributable to the Group	$ 91,696	$ 88,297
Net income per Ordinary Share attributable to the Group (note 10):
Basic (USD per share)	$ 1.63	$ 1.64
Diluted (USD per share)	$ 1.62	$ 1.63
Weighted average number of Ordinary Shares outstanding:
Basic (in shares)	53,348,355	53,845,407
Diluted (in shares)	53,905,022	54,142,510

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 92,329	$ 88,297
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on disposal of property, plant and equipment	37	0
Depreciation expense	11,413	11,582
Reduction in carrying value of operating right-of-use assets	7,328	7,446
Amortization of intangibles	4,909	3,915
Amortization of government grants	(11)	(11)
Interest on short term investments	0	(268)
Interest on non-current operating lease liability	493	689
Realized gain on sale of short term investments	(232)	0
Loss/(gain) on re-measurement of financial assets	200	(500)
Stock compensation expense	6,069	7,079
Amortization of interest rate hedge	(241)	(231)
Amortization of financing costs	119	137
Deferred taxes	(1,708)	(1,356)
Changes in assets and liabilities:
Decrease in accounts receivable	2,869	3,545
Increase in unbilled revenue	(24,038)	(79,478)
Decrease in other receivables	5,782	398
Increase in prepayments and other current assets	(956)	(2,187)
Decrease/(increase) in other non-current assets	2,466	(4,421)
Increase in unearned revenue	19,232	43,957
Increase in other current liabilities	19,711	16,432
Decrease in operating lease liabilities	(7,947)	(8,688)
Increase/(decrease) in other non-current liabilities	529	(13)
Increase in income taxes payable	5,304	2,907
(Decrease)/increase in accounts payable	(897)	5,403
Net cash provided by operating activities	142,760	94,634
Cash flows from investing activities:
Purchase of property, plant and equipment	(11,311)	(7,034)
Purchase of subsidiary undertakings	(47,333)	(42,349)
Cash acquired with subsidiary undertaking	10,170	686
Purchase of available for sale investments	0	(81)
Sale of available for sale investments	47,903	239
Purchase of investments in equity - long term	(187)	(2,019)
Net cash used in investing activities	(758)	(50,558)
Cash flows from financing activities:
Proceeds from exercise of equity compensation	867	3,391
Share issue costs	(3)	(4)
Repurchase of ordinary shares	(175,000)	(25,000)
Share repurchase costs	(140)	(20)
Net cash used in financing activities	(174,276)	(21,633)
Effect of exchange rate movements on cash	(5,663)	(656)
Net (decrease)/increase in cash and cash equivalents	(37,937)	21,787
Cash and cash equivalents at beginning of period	520,309	395,851
Cash and cash equivalents at end of period	$ 482,372	$ 417,638

Condensed Consolidated Statements of Shareholders' Equity and Comprehensive Income - 3 months ended Mar. 31, 2020 - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid-in Capital	Other Undenominated Capital	Accumulated Other Comprehensive Income	Retained Earnings	Redeemable Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2019	53,622,206	53,622,206
Beginning balance at Dec. 31, 2019	$ 1,618,055	$ 4,635	$ 577,961	$ 1,052	$ (75,819)	$ 1,110,226
Comprehensive income:
Net income	91,696					91,696
Currency translation adjustment	(22,426)				(22,426)
Currency impact of long term funding (net of tax)	(591)				(591)
Transfer to realized capital gain	(232)				(232)
Amortization of interest rate hedge	(241)				(241)
Fair value of cash flow hedge (net of tax)	354				354
Total comprehensive income	68,560				(23,136)	91,696
Exercise of share options (in shares)		31,964
Exercise of share options	861	$ 2	859
Issue of restricted share units (in shares)		89,799
Issue of restricted share units	6	$ 6
Non-cash stock compensation expense	6,035		6,035
Share issuance costs	(3)		(3)
Share repurchase program (in shares)		(1,235,218)
Share repurchase program	(175,000)	$ (82)		82		(175,000)
Share repurchase costs	(140)					(140)
Noncontrolling interest adjustment to redemption amount	$ (4,522)					(4,522)
Ending balance (in shares) at Mar. 31, 2020	52,508,751	52,508,751
Ending balance at Mar. 31, 2020	$ 1,513,852	$ 4,561	$ 584,852	$ 1,134	$ (98,955)	$ 1,022,260
Beginning balance at Dec. 31, 2019	39,510						$ 39,510
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to redeemable noncontrolling interest							633
Total comprehensive income							633
Noncontrolling interest adjustment to redemption amount							4,522
Exercise of call option on noncontrolling interest shares							(44,665)
Ending balance at Mar. 31, 2020	$ 0						$ 0

Basis of presentation	3 Months Ended
Basis of presentation	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation These condensed consolidated financial statements which have been prepared in accordance with United States Generally Accepted Accounting Principles (“US GAAP”) have not been audited. The condensed consolidated financial statements reflect all adjustments, which are, in the opinion of management, necessary to present a fair statement of the operating results and financial position for the periods presented. The preparation of the condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures in the condensed consolidated financial statements. Actual results could differ from those estimates. The condensed consolidated financial statements should be read in conjunction with the accounting policies and notes to the consolidated financial statements included in ICON’s Form 20-F for the year ended December 31, 2019 (see note 2 - Significant accounting policies for impact of adoption of any new accounting standards). Operating results for the three months ended March 31, 2020 are not necessarily indicative of the results that may be expected for the fiscal period ending December 31, 2020.

Significant accounting policies	3 Months Ended
Significant accounting policies	Mar. 31, 2020
Accounting Policies [Abstract]
Significant accounting policies	Significant accounting policies Redeemable noncontrolling interests and equity On May 23, 2019, ICON acquired a majority ownership interest in MeDiNova. Included in the purchase agreement are put and call option arrangements with the noncontrolling interest holders that require (put option) or enable (call option) ICON to purchase the remaining minority ownership at a future date. The option is accounted for as temporary equity, which is presented separately as redeemable noncontrolling interest on the Consolidated Balance Sheet. This classification reflects the assessment that the instruments are contingently redeemable in accordance with ASC 480-10-S99 'Distinguishing Liabilities from Equity'. Redeemable noncontrolling interests are accreted to their redemption value over the period from the date of issuance to the first date on which the option is exercisable. The change in the option's redemption value is recorded against retained earnings. In a computation of earnings per share, the accretion of redeemable noncontrolling interests to their redemption value is a reduction of net income attributable to the Group. Basic and diluted net income per ordinary share attributable to the Group includes the adjustment to reflect the accretion of the noncontrolling interest to its redemption value. On March 9, 2020 ICON exercised its option to call the outstanding shares in the noncontrolling interest to take 100% ownership of MeDiNova. On exercise of the call option, the noncontrolling interest is extinguished and a liability is recorded for the amount payable to the former noncontrolling interest holders. At March 31, 2020, a liability of $42.6 million has been recorded in relation to the payment due to the former noncontrolling interest holders. Financial assets - credit losses On January 1, 2020, the Group adopted ASU 2016-13 'Measurement of Credit Losses on Financial Instruments (ASC 326)', which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. The update provides guidance on the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The amendment replaces the current incurred loss impairment approach with a methodology to reflect expected credit losses and requires consideration of a broader range of reasonable and supportable information to explain credit loss estimates. The Group adopted ASC 326 using the modified retrospective method for all in scope financial assets. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The impact of transitioning to the new standard at January 1, 2020 was immaterial and no adjustment was recorded to retained earnings for the cumulative effect of adopting ASC 326. On transition to ASC 326, the Group has revised the methodology to calculate the allowance for credit losses. The Group's estimate of expected credit losses considers historical credit loss information that is adjusted, where necessary, for current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The Group's receivables and unbilled services are predominantly due from large and mid-tier pharmaceutical and biotechnology companies that share similar risk characteristics. The Group monitors their portfolio of receivables and unbilled services for any deterioration in current or expected credit quality (for example, expected delinquency level), and adjusts the allowance for credit losses as required. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in the Consolidated Statement of Operations. Losses are charged against the allowance when management believes the uncollectibility of a previously provisioned amount is confirmed. ASC 842 Leases (adopted at January 1, 2019) The new leasing standard (ASC 842 'Leases') was effective and adopted by ICON from January 1, 2019. ASC 842 'Leases' supersedes the requirements in ASC 840 'Leases' and requires that lessees recognize rights and obligations from virtually all leases (other than leases that meet the definition of a short-term lease) on their balance sheets as right-of-use assets with corresponding lease liabilities. The ASU also provides additional guidance on how to classify leases and how to determine the lease term for accounting purposes. ICON adopted the new standard under the cumulative effect adjustment approach. Under this transition method, the new standard is applied from January 1, 2019 without restatement of comparative period amounts. Operating lease liabilities and right-of-use assets of $106.5 million were recorded on the Condensed Consolidated Balance Sheet as at January 1, 2019. There was no impact of adopting ASC 842 on opening retained earnings at January 1, 2019.

Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Revenue disaggregated by customer profile is as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)

Top client	$	81,267	$	99,994
Clients 2-5	203,741		169,339
Clients 6-10	88,191		89,067
Clients 11-25	124,618		124,826
Other	217,285		191,626

Total	$	715,102	$	674,852

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities)

Accounts receivables and unbilled revenue are as follows:



	March 31, 2020			December 31, 2019
	(in thousands)
Contract assets:
Billed services (accounts receivable)	$	535,080		$	535,088
Unbilled services (unbilled revenue)	446,465			422,769
Accounts receivable and unbilled revenue	981,545			957,857
Allowance for credit losses	(9,438		)	—
Allowance for doubtful debts	—			(7,380		)

Accounts receivable and unbilled revenue, net	$	972,107		$	950,477

Unbilled services and unearned revenue or payments on account (contract assets and liabilities) were as follows:



(in thousands, except percentages)	March 31, 2020			December 31, 2019			$ Change			% Change

Unbilled services (unbilled revenue)	$	446,465		$	422,769		$	23,696		5.6	%
Unearned revenue (payments on account)	(386,242		)	(366,988		)	(19,254		)	5.2	%

Net balance	$	60,223		$	55,781		$	4,442		8.0	%

Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers. We record assets for amounts related to performance obligations that are satisfied but not yet billed and/or collected. These assets are recorded as unbilled services and therefore contract assets rather than accounts receivables when receipt of the consideration is conditional on something other than the passage of time. Liabilities are recorded for amounts that are collected in advance of the satisfaction of performance obligations or billed in advance of the revenue being earned.

Unbilled services/revenue balances arise where invoicing or billing is based on the timing of agreed milestones related to service contracts for clinical research. Contractual billing arrangements in respect of certain reimbursable expenses (principally investigators) require billing by the investigator to the Company prior to billing by the Company to the customer. As there is no contractual right to set-off between unbilled services (contract assets) and unearned revenue (contract liabilities), each are separately presented gross on the Consolidated Balance Sheet.

Unbilled services as at March 31, 2020 increased by $23.7 million as compared to December 31, 2019. Unearned revenue increased by $19.3 million over the same period resulting in an increase of $4.4 million in the net balance of unbilled services and unearned revenue or payments on account between December 31, 2019 and March 31, 2020. These fluctuations are primarily due to timing of payments and invoicing related to the Group's clinical trial management contracts. Billings and payments are established by contractual provisions including predetermined payment schedules which may or may not correspond to the timing of the transfer of control of the Company's services under the contract. Unbilled services arise from long-term contracts when a cost-based input method of revenue recognition is applied and revenue recognized exceeds the amount billed to the customer.

The credit loss expense and allowance for credit losses recognized on the Group's receivables and unbilled services was de minimis for the three months ended March 31, 2020 and March 31, 2019.

As of March 31, 2020 approximately $5.4 billion of revenue is expected to be recognized in the future in respect of unsatisfied performance obligations. The Company expects to recognize revenue on approximately 43% of the unsatisfied performance obligation over the next 12 months, with the remainder recognized thereafter over the duration of the customer contracts.

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities)

Revenue

Revenue disaggregated by customer profile is as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)

Top client	$	81,267	$	99,994
Clients 2-5	203,741		169,339
Clients 6-10	88,191		89,067
Clients 11-25	124,618		124,826
Other	217,285		191,626

Total	$	715,102	$	674,852

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities)

Accounts receivables and unbilled revenue are as follows:



	March 31, 2020			December 31, 2019
	(in thousands)
Contract assets:
Billed services (accounts receivable)	$	535,080		$	535,088
Unbilled services (unbilled revenue)	446,465			422,769
Accounts receivable and unbilled revenue	981,545			957,857
Allowance for credit losses	(9,438		)	—
Allowance for doubtful debts	—			(7,380		)

Accounts receivable and unbilled revenue, net	$	972,107		$	950,477

Unbilled services and unearned revenue or payments on account (contract assets and liabilities) were as follows:



(in thousands, except percentages)	March 31, 2020			December 31, 2019			$ Change			% Change

Unbilled services (unbilled revenue)	$	446,465		$	422,769		$	23,696		5.6	%
Unearned revenue (payments on account)	(386,242		)	(366,988		)	(19,254		)	5.2	%

Net balance	$	60,223		$	55,781		$	4,442		8.0	%

The credit loss expense and allowance for credit losses recognized on the Group's receivables and unbilled services was de minimis for the three months ended March 31, 2020 and March 31, 2019.

Goodwill

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill



	Three Months Ended			Year Ended
	March 31, 2020			December 31, 2019
	(in thousands)
Opening balance	$	883,170		$	756,260
Current period acquisitions (Note 6)	25,411			126,932
Prior period acquisitions	(70		)	—
Foreign exchange movement	(15,478		)	(22		)

Closing balance	$	893,033		$	883,170

Business combinations

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Business combinations

Acquisitions – MedPass Group ("MedPass")

On January 22, 2020 a subsidiary of the Company, ICON Investments Limited acquired 100% of the equity share capital of the MedPass Group. MedPass is the leading European medical device CRO, regulatory and reimbursement consultancy, that specializes in medical device development and market access. The acquisition of MedPass further enhances ICON’s Medical Device and Diagnostic Research Services, through the addition of new regulatory and clinical capabilities in Europe. The integration of MedPass’s services brings noted expertise in complex class 3 medical devices, interventional cardiology and structural heart devices.

The acquisition of Medpass has been accounted for as a business combination in accordance with ASC 805 'Business Combinations'. The Company has made a provisional assessment of the fair value of assets acquired and liabilities assumed as at that date.



	January 22,
	2020
	(in thousands)
Cash & cash equivalents	$	10,170
Property, plant and equipment	45
Operating right of use assets	1,362
Goodwill *	25,411
Intangible asset **	16,570
Accounts receivable	2,825
Prepayments and other current assets	158
Accounts payable	(368		)
Unearned revenue	(206		)
Other liabilities	(2,973		)
Current lease liabilities	(293		)
Non-current lease liabilities	(1,069		)
Non-current deferred tax liability	(4,640		)

Net assets acquired	$	46,992

Cash outflows	$	46,992
Contingent consideration ***	—

Total consideration	$	46,992

*Goodwill represents the acquisition of an established workforce that specializes in medical device development and market access. None of the goodwill recognized is expected to be deductible for income tax purposes.

**The Company has made an estimate of separate intangible assets acquired, being customer relationships and order book assets. This assessment will be finalized within 12 months of the date of acquisition.

*** The fair value of the contingent consideration was estimated at the date of acquisition. Depending on performance of the company, Medpass could earn up to $6.7 million in contingent consideration. At March 31, 2020, the fair value of this contingent consideration payable to Medpass is $Nil.

Acquisitions – CRN Holdings LLC (trading as Symphony Clinical Research ("Symphony"))

On September 24, 2019 a subsidiary of the Company, ICON Clinical Research LLC, acquired a 100% interest in Symphony. Symphony is a leading provider of at-home trial services and site support services. The acquisition of Symphony further enhances our site & patient services offering.

The acquisition of Symphony has been accounted for as a business combination in accordance with ASC 805 'Business Combinations'. The Company has made a provisional assessment of the fair value of assets acquired and liabilities assumed as at that date.



	September 24,
	2019
	(in thousands)
Cash & cash equivalents	$	3,292
Property, plant and equipment	564
Operating right of use assets	820
Goodwill *	22,865
Customer relationships **	8,159
Order backlog **	2,163
Accounts receivable	3,579
Unbilled revenue	186
Prepayments and other current assets	181
Other receivables	6
Accounts payable	(799		)
Unearned revenue	(1,446		)
Other liabilities	(933		)
Current lease liabilities	(289		)
Non-current lease liabilities	(531		)

Net assets acquired	$	37,817

Cash outflows	$	34,976
Working capital adjustment paid	341
Contingent consideration payable ***	2,500

Total consideration	$	37,817

*Goodwill represents the acquisition of an established workforce and the capability to provide at-home trial services and site support solutions. The full amount of the goodwill recognized is expected to be deductible for income tax purposes.

**The Company has made an estimate of separate intangible assets acquired, being customer relationships and order book assets. The fair value of Symphony’s intangible assets has been measured provisionally, pending receipt of a final independent valuation. This assessment will be finalized within 12 months of the date of acquisition.

*** The fair value of the contingent consideration was estimated at the date of acquisition. At March 31, 2020 the fair value of this contingent consideration payable to Symphony was $1.0 million. The change in fair value has been recorded in the Condensed Consolidated Statement of Operations.

Acquisitions – MeDiNova

On May 23, 2019 a subsidiary of the Company, ICON Clinical Research (U.K.) Limited acquired a majority shareholding in MeDiNova, a site network with research sites in key markets in Europe and Africa. On March 9, 2020 ICON exercised its option to call the outstanding shares in the noncontrolling interest to take 100% ownership of MeDiNova. The acquisition further enhances ICON's patient recruitment capabilities in EMEA and complements ICON's existing site network in the US, PMG Research.

The acquisition of MeDiNova has been accounted for as a business combination in accordance with ASC 805 'Business Combinations'. The Company has made a provisional assessment of the fair value of assets acquired and liabilities assumed as at that date.



	May 23,
	2019
	(in thousands)
Cash & cash equivalents	$	7,719
Property, plant and equipment	670
Operating right of use assets	1,558
Goodwill *	81,567
Customer relationships **	3,887
Order backlog **	171
Patient database **	2,542
Accounts receivable	3,488
Unbilled revenue	4,272
Other receivables	819
Prepayments and other current assets	406
Accounts payable	(5,484		)
Unearned revenue	(5,796		)
Other liabilities	(6,605		)
Current lease liabilities	(430		)
Non-current lease liabilities	(1,128		)
Non-current deferred tax liability	(1,380		)

Net assets acquired	$	86,276

Cash outflows	$	54,123
Working capital adjustment receivable	(439		)
Redeemable noncontrolling interest ***	32,592

Total consideration	$	86,276

*Goodwill represents the acquisition of an established workforce and access to a broad site network in Europe and Africa. None of the goodwill recognized is expected to be deductible for income tax purposes.

**The Company has made an estimate of separate intangible assets acquired, being customer relationships, order book assets and patient database. This assessment will be finalized within 12 months of the date of acquisition. The fair value of MeDiNova’s intangible assets has been measured provisionally, pending receipt of a final independent valuation.

***The fair value of the redeemable noncontrolling interest on May 23, 2019 was $32.6 million which was estimated by applying an income based approach. The valuation approach used was based on the future earnings of the Company times an appropriate earnings multiple. On March 9, 2020 ICON exercised its option to call the outstanding shares in the noncontrolling interest to take 100% ownership of MeDiNova. Effective from this date, the noncontrolling interest was derecognized and a liability is recognized, representing the assessment of the redemption value of the noncontrolling interest to be settled during the period ended June 30, 2020.

Acquisitions – MolecularMD Corp ("MMD")

On January 25, 2019 a subsidiary of the Company, ICON Laboratory Services, Inc. acquired 100% of the share capital of MMD. MMD is a molecular diagnostic specialty laboratory that enables the development and commercialization of precision medicines in oncology. The consideration on acquisition was $42.2 million.

The acquisition of MMD has been accounted for as a business combination in accordance with ASC 805 'Business Combinations'. The Company has made an assessment of the fair value of assets acquired and liabilities assumed as at that date. The following table summarizes the Company’s fair values of the assets acquired and liabilities assumed:



	January, 25
	2019
	(in thousands)
Cash & cash equivalent	$	686
Property, plant and equipment	1,697
Operating right of use assets	2,866
Goodwill *	22,430
Customer relationships	10,708
Order backlog	2,787
Accounts receivable	3,100
Unbilled revenue	2,421
Other receivables	43
Prepayments and other current assets	908
Deferred tax asset	1,568
Accounts payable	(1,280		)
Unearned revenue	(540		)
Other liabilities	(1,232		)
Current lease liabilities	(699		)
Non-current lease liabilities	(2,167		)
Non-current other liabilities	(1,123		)

Net assets acquired	$	42,173

Cash outflows	$	42,349
Working capital adjustment	(176		)

Total consideration	$	42,173

*Goodwill represents the acquisition of an established workforce with experience in molecular diagnostic specialty laboratory services and commercialization of precision medicines in oncology. None of the goodwill recognized is expected to be deductible for income tax purposes.

Accounting for the acquisition of MMD was finalized at December 31, 2019.

Restructuring

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring charges

No restructuring charge was recognized during the three months ended March 31, 2020 (March 31, 2019: $Nil).

Prior Period Restructuring charges

A restructuring charge of $12.5 million was recognized during the year ended December 31, 2018 under a restructuring plan adopted following a review of operations. The restructuring plan reflected resource rationalization across the business to improve resource utilization, resulting in a charge of $9.7 million and office consolidation resulting in the recognition of an onerous lease obligation of $2.8 million. No additional charge was recorded during the three months ended March 31, 2020.



	Workforce reductions			Onerous Lease			Total
	(in thousands)
Initial restructuring charge recorded	$	9,684		$	2,806		$	12,490
Utilization	(5,399		)	(672		)	(6,071		)
Provision at December 31, 2018	$	4,285		$	2,134		$	6,419
Utilization	(3,554		)	(1,228		)	(4,782		)
Provision at December 31, 2019	$	731		$	906		$	1,637
Utilization	(430		)	(186		)	(616		)
Provision at March 31, 2020	$	301		$	720		$	1,021

At March 31, 2020, $0.6 million is included within other liabilities and $0.4 million within non-current other liabilities.

Operating leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Operating leases

Lease costs recorded under operating leases for the three months ended March 31, 2020 were as follows:



	Three Months Ended
	March 31, 2020			March 31, 2019
	(in thousands)
Operating lease costs	8,089			8,655
Income from sub-leases	(268		)	(520		)
Net operating lease costs	$	7,821		$	8,135

Of the total cost of $7.8 million incurred in the three months ended March 31, 2020 (March 31, 2019: $8.1 million), $7.1 million (March 31, 2019: $7.2 million) is recorded within selling, general and administration costs and $0.7 million (March 31, 2019: $0.9 million) is recorded within direct costs.

During the three months ended March 31, 2020 and March 31, 2019, costs incurred by the Group related to variable lease payments was de minimis.

Additional right-of-use assets obtained in exchange for lease obligations during the three months ended March 31, 2020 totaled $4.3 million (March 31, 2019: $13.0 million). The weighted average remaining lease term and weighted-average discount rate at March 31, 2020 were 5.11 years and 2.86%, respectively.

Future minimum lease payments under non-cancelable leases as of March 31, 2020 were as follows:



	Minimum rental payments
	(in thousands)
	March 31, 2020
Due within 1 year	$	27,339
Due between 1 and 5 years	63,599
Thereafter	16,398
Total future minimum lease payments	107,336
Lease imputed interest	(7,726		)
Total	$	99,610

Operating lease liabilities are presented as current and non-current. Operating lease liabilities of $24.8 million have been included in other liabilities as at March 31, 2020 (March 31, 2019: $28.1 million).

Income taxes

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Income taxes

Income taxes recognized during the three months ended March 31, 2020 and March 31, 2019, comprise:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Provision for income taxes	$	12,590	$	12,040

As at March 31, 2020 the Company maintains a $21.2 million liability (December 31, 2019: $21.3 million) for unrecognized tax benefit, which is comprised of $20.1 million (December 31, 2019: $20.2 million) related to items generating unrecognized tax benefits and $1.1 million (December 31, 2019: $1.1 million) for interest and related penalties to such items. The Company recognizes interest accrued on unrecognized tax benefits as an additional income tax expense.

The Company has analyzed the filing positions in all of the significant federal, state and foreign jurisdictions where it is required to file income tax returns, as well as open tax years in these jurisdictions. The only periods subject to examination by the major tax jurisdictions where the Company does business are 2015 through 2019 tax years. The Company does not believe that the outcome of any examination will have a material impact on its financial statements.

Net income per ordinary share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net income per ordinary share

Basic net income per ordinary share attributable to the Group has been computed by dividing net income available to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period.

Diluted net income per ordinary share is computed by adjusting the weighted average number of ordinary shares outstanding during the period for all potentially dilutive ordinary shares outstanding during the period and adjusting net income for any changes in income or loss that would result from the conversion of such potential ordinary shares.

There is no difference in net income used for basic and diluted net income per ordinary share.

Basic and diluted net income per ordinary share attributable to the Group includes the adjustment to reflect the accretion of the noncontrolling interest in MeDiNova to its redemption value.

The reconciliation of the number of shares used in the computation of basic and diluted net income per ordinary share is as follows:



	Three Months Ended
	March 31, 2020	March 31, 2019
Weighted average number of ordinary shares outstanding for basic net income per ordinary share	53,348,355	53,845,407
Effect of dilutive share options outstanding	556,667	297,103
Weighted average number of ordinary shares outstanding for diluted net income per ordinary share	53,905,022	54,142,510

The reconciliation of net income attributable to the Group and net income attributable to the group (including NCI redemption amount) as used to calculate net income per ordinary share attributable to the Group is as follows:



	Three Months Ended
	March 31, 2020			March 31, 2019
	(in thousands)
Net income attributable to the Group	$	91,696		$	88,297
Noncontrolling interest adjustment to redemption amount	(4,522		)	—
Net income attributable to the Group (including NCI redemption adjustment)	$	87,174		$	88,297

	Three Months Ended
	March 31, 2020			March 31, 2019
Net income per Ordinary Share attributable to the Group (including NCI redemption adjustment):
Basic	$	1.63		$	1.64
Diluted	$	1.62		$	1.63

Share-based awards

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Share-based awards

Share Options

On July 21, 2008, the Company adopted the Employee Share Option Plan 2008 (the “2008 Employee Plan”) pursuant to which the Compensation and Organization Committee of the Company’s Board of Directors may grant options to any employee, or any Director holding a salaried office or employment with the Company or a Subsidiary for the purchase of ordinary shares. On the same date, the Company also adopted the Consultants Share Option Plan 2008 (the “2008 Consultants Plan”), pursuant to which the Compensation and Organization Committee of the Company’s Board of Directors may grant options to any consultant, adviser or non-executive Director retained by the Company or any Subsidiary for the purchase of ordinary shares.

On February 14, 2017, both the 2008 Employee Plan and the 2008 Consultants Plan (together the “2008 Option Plans”) were amended and restated in order to increase the number of options that can be issued under the 2008 Consultants Plan from 0.4 million to 1.0 million and to extend the date for options to be granted under the 2008 Option Plans.

An aggregate of 6.0 million ordinary shares have been reserved under the 2008 Employee Plan, as reduced by any shares issued or to be issued pursuant to options granted under the 2008 Consultants Plan, under which a limit of 1.0 million shares applies. Further, the maximum number of ordinary shares with respect to which options may be granted under the 2008 Employee Option Plan, during any calendar year to any employee shall be 0.4 million ordinary shares. There is no individual limit under the 2008 Consultants Plan. No options may be granted under the 2008 Option Plans after February 14, 2027.

Each option granted under the 2008 Option Plans will be an employee stock option, or NSO, as described in Section 422 or 423 of the Internal Revenue Code. Each grant of an option under the 2008 Options Plans will be evidenced by a Stock Option Agreement between the optionee and the Company. The exercise price will be specified in each Stock Option Agreement, however option prices will not be less than 100% of the fair market value of an ordinary share on the date the option is granted.

On January 17, 2003, the Company adopted the Share Option Plan 2003 (the “2003 Share Option Plan”) pursuant to which the Compensation and Organization Committee of the Board could grant options to officers and other employees of the Company or its subsidiaries for the purchase of ordinary shares. An aggregate of 6.0 million ordinary shares were reserved under the 2003 Share Option Plan; and, in no event could the number of ordinary shares issued pursuant to options awarded under this plan exceed 10% of the outstanding shares, as defined in the 2003 Share Option Plan, at the time of the grant, unless the Board expressly determined otherwise. Further, the maximum number of ordinary shares with respect to which options could be granted under the 2003 Share Option Plan during any calendar year to any employee was 0.4 million ordinary shares. The 2003 Share Option Plan expired on January 17, 2013. No new options may be granted under this plan.

Share option awards are granted with an exercise price equal to the market price of the Company’s shares at date of grant. Prior to 2018, share options typically vest over a period of five years from date of grant and expire eight years from date of grant. Share options granted to non-executive directors during 2018 vest over 12 months and expire eight years from the date of grant. The maximum contractual term of options outstanding at March 31, 2020 is eight years.

The following table summarizes option activity for the three months ended March 31, 2020:



	Options Outstanding Number of Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life
Outstanding at December 31, 2019	656,107		$	87.80	$	26.60	4.76
Granted	100,207		$	159.33	$	42.11
Exercised	(31,964	)	$	26.95	$	10.82
Canceled/expired	(1,330	)	$	22.30	$	9.72

Outstanding at March 31, 2020	723,020		$	100.52	$	29.48	5.17

Exercisable at March 31, 2020	365,707		$	79.57	$	23.91	4.06

The Company has outstanding options with fair values ranging from $9.72 to $43.59 per option or a weighted average fair value of $18.95 per option. The Company issues ordinary shares for all options exercised. The total amount of fully vested share options which remained outstanding at March 31, 2020 was 365,707. Fully vested share options at March 31, 2020 have an average remaining contractual term of 4.06 years, an average exercise price of $79.57 and a total intrinsic value of $20.7 million. The total intrinsic value of options exercised during the three months ended March 31, 2020 was $3.5 million (March 31, 2019: $5.4 million).

The following table summarizes the movement in non-vested share options for the three months ended March 31, 2020:



	Options Outstanding Number of Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Non-vested outstanding at December 31, 2019	358,030		$	103.68	$	31.28

Granted	100,207		$	159.33	$	42.11
Vested	(100,924	)	$	94.22	$	28.20
Forfeited	—		$	—	$	—

Non-vested outstanding at March 31, 2020	357,313		$	121.96	$	35.19

Fair value of Stock Options Assumptions

The weighted average fair value of options granted during the three months ended March 31, 2020 and March 31, 2019 was calculated using the Black-Scholes option pricing model. The weighted average grant date fair values and assumptions used were as follows:



	Three Months Ended
	March 31, 2020			March 31, 2019
Weighted average grant date fair value	$	42.11		$	43.59
Assumptions:
Expected volatility	28		%	30		%
Dividend yield	—		%	—		%
Risk-free interest rate	0.78		%	2.59		%
Expected life	5 years			5 years

Expected volatility is based on the historical volatility of our common stock over a period equal to the expected term of the options; the expected life represents the weighted average period of time that options granted are expected to be outstanding given consideration to vesting schedules and our historical experience of past vesting and termination patterns. The risk-free rate is based on the U.S. government zero-coupon bonds yield curve in effect at time of the grant for periods corresponding with the expected life of the option.

Restricted Share Units and Performance Share Units

On April 23, 2013, the Company adopted the 2013 Employees Restricted Share Unit and Performance Share Unit Plan (the “2013 RSU Plan”) pursuant to which the Compensation and Organization Committee of the Company’s Board of Directors may select any employee, or any Director holding a salaried office or employment with the Company, or a Subsidiary to receive an award under the plan. On May 11, 2015, the 2013 RSU Plan was amended and restated in order to increase the number of shares that can be issued under the RSU Plan by 2.5 million shares. Accordingly, an aggregate of 4.1 million ordinary shares have been reserved for issuance under the 2013 RSU Plan. The shares are awarded at par value and vest over a service period. Awards under the 2013 RSU Plan may be settled in cash or shares at the option of the Company.

On April 30 2019, the Company approved the 2019 Consultants and Directors Restricted Share Unit Plan (the “2019 Consultants RSU Plan”), which was effective as of May 16, 2019, pursuant to which the Compensation and Organization Committee of the Company’s Board of Directors may select any consultant, adviser or non-executive Director retained by the Company, or a Subsidiary to receive an award under the plan. 250,000 ordinary shares have been reserved for issuance under the 2019 Consultants RSU Plan. The awards are at par value and vest over a service period. Awards granted to non-executive directors in May 2019 vest over twelve months.

The Company has awarded RSUs and PSUs to certain key individuals of the Group. The following table summarizes RSU and PSU activity for the three months ended March 31, 2020:



	PSU Outstanding Number of Shares		PSU Weighted Average Grant Date Fair Value		PSU Weighted Average Remaining Contractual Life	RSU Outstanding Number of Shares		RSU Weighted Average Grant Date Fair Value		RSU Weighted Average Remaining Contractual Life
Outstanding at December 31, 2019	175,989		$	110.79	1.04	389,900		$	119.07	1.43

Granted	52,960		$	159.33		23,238		$	159.33
Shares vested	(59,192	)	$	83.47		(30,607	)	$	106.77
Forfeited	(182	)	$	83.47		(4,554	)	$	111.07

Outstanding at March 31, 2020	169,575		$	135.50	1.81	377,977		$	122.64	1.33

The fair value of PSUs vested for the three months ended March 31, 2020 totaled $4.9 million (full year 2019: $16.5 million).

The fair value of RSUs vested for the three months ended March 31, 2020 totaled $3.3 million (full year 2019: $8.5 million).

The PSUs vest based on service and specified EPS targets over the periods 2017 – 2019, 2018 – 2020 and 2019 – 2021. Depending on the amount of EPS from 2017 to 2021, up to an additional 78,274 PSUs may also be granted.

Non-cash stock compensation expense

Non-cash stock compensation expense for the three months ended March 31, 2020 and March 31, 2019 has been allocated as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Direct costs	$	1,835	$	3,901
Selling, general and administrative	4,234		3,178

	$	6,069	$	7,079

Total non-cash stock compensation expense not yet recognized at March 31, 2020 amounted to $50.7 million. The weighted average period over which this is expected to be recognized is 2.48 years.

Share capital	3 Months Ended
Share capital	Mar. 31, 2020
Equity [Abstract]
Share capital	Share capital The Company can acquire up to 10% of its outstanding ordinary shares (by way of redemption), in accordance with Irish law, the United States securities laws, and the Company’s constitutional documents through open market share acquisitions. On January 8, 2019, the Company commenced a share buyback program of up to 1.0 million ordinary shares which was completed during the year ended December 31, 2019 for total consideration of $141.6 million. On October 22 2019, the Company commenced a further share buyback program. At December 31, 2019 35,100 ordinary shares were redeemed for a total consideration of $5.3 million. During the three months ended March 31, 2020 1,235,218 ordinary shares were redeemed by the Company under this buyback program for a total consideration of $175.0 million. The buyback program gives a broker authority to acquire the Company’s ordinary shares from time to time on the open market in accordance with agreed terms and limitations. All ordinary shares that were redeemed under the buyback program were canceled in accordance with the Constitution of the Company and the nominal value of these shares transferred to an other undenominated capital reserve as required under Irish Company Law.

Business segment information

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Business segment information

The Company determines and presents operating segments based on the information that is internally provided to the chief operating decision maker, the (‘CODM’) in accordance with ASC 280 'Segment Reporting'. The Company determined that the CODM was comprised of the Chief Executive Officer and the Chief Financial Officer.

The Company determines and presents operating segments based on the information that is provided to the CODM. The Company operates as one single business segment, which is the provision of outsourced development services on a global basis to the pharmaceutical, biotechnology and medical devices industries. There have been no changes to the basis of segmentation or the measurement basis for the segment results in the period.

The Company is a clinical research organization (“CRO”), providing outsourced development services on a global basis to the pharmaceutical, biotechnology and medical device industries. It specializes in the strategic development, management and analysis of programs that support all stages of the clinical development process - from compound selection to Phase I-IV clinical studies. The Company has the expertise and capability to conduct clinical trials in most major therapeutic areas on a global basis and has the operational flexibility to provide development services on a stand-alone basis or as part of an integrated “full service” solution. The Company has expanded predominately through internal growth together with a number of strategic acquisitions to enhance its expertise and capabilities in certain areas of the clinical development process.

The Company is generally awarded projects based upon responses to requests for proposals received from companies in the pharmaceutical, biotechnology and medical device industries or work orders executed under our strategic partnership arrangements. Contracts with customers are generally entered into centrally, in most cases with ICON Clinical Research Limited (“ICON Ireland”), the Company’s principal operating subsidiary in Ireland. Revenues, which consist primarily of fees earned under these contracts, are allocated to individual entities within the Group, based on where the work is performed in accordance with the Company’s global transfer pricing model.

ICON Ireland acts as the group entrepreneur under the Company’s global transfer pricing model given its role in the development and management of the group, its ownership of key intellectual property and customer relationships, its key role in the mitigation of risks faced by the group and its responsibility for maintaining the Company’s global network. ICON Ireland enters into the majority of the Company’s customer contracts.

ICON Ireland remunerates other operating entities in the ICON Group on the basis of a guaranteed cost plus mark-up for the services they perform in each of their local territories. The cost plus mark-up for each ICON entity is established to ensure that each of ICON Ireland and the ICON entities that are involved in the conduct of services for customers, earn an appropriate arms-length return having regard to the assets owned, risks borne, and functions performed by each entity from these intercompany transactions. The cost plus mark up policy is reviewed annually to ensure that it is market appropriate.

The geographic split of revenue disclosed for each region outside Ireland is the cost plus revenue attributable to these entities. The residual revenues of the Group, once each ICON entity has been paid its respective intercompany service fee, generally fall to be retained by ICON Ireland. As such, revenues and income from operations in Ireland are a function of this global transfer pricing model and comprise revenues of the Group after deducting the cost plus revenues attributable to the activities performed outside Ireland.

The Company's areas of operation outside of Ireland include the United States, United Kingdom, Belgium, Bulgaria, France, Germany, Italy, Spain, Poland, Portugal, Czech Republic, Hungary, Israel, Latvia, Romania, Russia, Serbia, Sweden, The Netherlands, Turkey, Ukraine, Canada, Argentina, Brazil, Chile, Colombia, Mexico, Peru, India, China (including Hong Kong), Japan, Singapore, South Korea, The Philippines, Taiwan, Thailand, Australia, New Zealand and South Africa.

The geographical distribution of the Company’s segment measures as at March 31, 2020 and December 31, 2019 and for the three months ended March 31, 2020 and March 31, 2019 is as follows:

a) The distribution of revenue by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland *	$	314,972	$	298,483
Rest of Europe	102,431		90,445
U.S.	225,467		218,540
Rest of World	72,232		67,384

Total	$	715,102	$	674,852

* All sales shown for Ireland are export sales.

b) The distribution of income from operations including restructuring by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland	$	73,935	$	70,621
Rest of Europe	10,696		5,850
U.S.	13,891		17,107
Rest of World	7,769		8,368

Total	$	106,291	$	101,946

c) The distribution of long-lived assets (including right-of-use assets), net, by geographical area was as follows:



	March 31, 2020		December 31, 2019
	(in thousands)
Ireland	$	107,684	$	110,522
Rest of Europe	40,398		41,970
U.S.	69,686		72,578
Rest of World	44,323		44,994

Total	$	262,091	$	270,064

d) The distribution of depreciation, amortization and reduction in carrying value of the right-of-use assets by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland	$	8,241	$	7,890
Rest of Europe	3,815		3,437
U.S.	8,639		7,641
Rest of World	2,955		3,975

Total	$	23,650	$	22,943

e) The distribution of total assets by geographical area was as follows:



	March 31, 2020		December 31, 2019
	(in thousands)
Ireland	$	1,625,180	$	1,323,181
Rest of Europe	615,734		660,797
U.S.	417,718		755,271
Rest of World	182,700		168,263

Total	$	2,841,332	$	2,907,512

Impact of change in accounting policies	3 Months Ended
Impact of change in accounting policies	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
Impact of change in accounting policies	Impact of change in accounting policies ASC 326 Financial Instruments - Credit Losses ASU 2016-13 'Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments' (ASU 2016-13) was effective, and adopted by the Group, from January 1, 2020. Primarily, ASU 2016-13 introduces an expected loss methodology that is referred to as the current expected credit loss (CECL) methodology. The objectives of previous loss methodologies for instruments within the scope of this update generally delayed recognition of the full amount of credit losses until the loss was probable of occurring. Under ASU 2016-13, losses reflect an entity’s current estimate of all expected credit losses including, in addition to the consideration of past events and current conditions, as under the current guidance, incorporating the use of forecast information to provide more timely and accurate credit loss estimates. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities. It also applies to off-balance sheet credit exposures not accounted as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor in accordance with ASC 842 on leases. In addition, ASC 326 changed the accounting for available-for-sale (AFS) debt securities to require credit losses to be presented as an allowance rather than as a write-down to align the income statement recognition of credit losses on AFS debt securities with the reporting period in which the changes occur. The Group adopted ASC 326 using the modified retrospective method. Under this transition method, the new standard is applied from January 1, 2020 without restatement of comparative period amounts. The adoption of ASC 326 does not have a material impact on the Group and there was no impact of adopting ASC 326 on opening balances at January 1, 2020.

Significant accounting policies (Policies)	3 Months Ended
Significant accounting policies (Policies)	Mar. 31, 2020
Accounting Policies [Abstract]
Redeemable noncontrolling interests and equity	Redeemable noncontrolling interests and equity On May 23, 2019, ICON acquired a majority ownership interest in MeDiNova. Included in the purchase agreement are put and call option arrangements with the noncontrolling interest holders that require (put option) or enable (call option) ICON to purchase the remaining minority ownership at a future date. The option is accounted for as temporary equity, which is presented separately as redeemable noncontrolling interest on the Consolidated Balance Sheet. This classification reflects the assessment that the instruments are contingently redeemable in accordance with ASC 480-10-S99 'Distinguishing Liabilities from Equity'. Redeemable noncontrolling interests are accreted to their redemption value over the period from the date of issuance to the first date on which the option is exercisable. The change in the option's redemption value is recorded against retained earnings. In a computation of earnings per share, the accretion of redeemable noncontrolling interests to their redemption value is a reduction of net income attributable to the Group. Basic and diluted net income per ordinary share attributable to the Group includes the adjustment to reflect the accretion of the noncontrolling interest to its redemption value.
New accounting pronouncements	Financial assets - credit losses On January 1, 2020, the Group adopted ASU 2016-13 'Measurement of Credit Losses on Financial Instruments (ASC 326)', which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining life. The update provides guidance on the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The amendment replaces the current incurred loss impairment approach with a methodology to reflect expected credit losses and requires consideration of a broader range of reasonable and supportable information to explain credit loss estimates. The Group adopted ASC 326 using the modified retrospective method for all in scope financial assets. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The impact of transitioning to the new standard at January 1, 2020 was immaterial and no adjustment was recorded to retained earnings for the cumulative effect of adopting ASC 326. On transition to ASC 326, the Group has revised the methodology to calculate the allowance for credit losses. The Group's estimate of expected credit losses considers historical credit loss information that is adjusted, where necessary, for current conditions and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The Group's receivables and unbilled services are predominantly due from large and mid-tier pharmaceutical and biotechnology companies that share similar risk characteristics. The Group monitors their portfolio of receivables and unbilled services for any deterioration in current or expected credit quality (for example, expected delinquency level), and adjusts the allowance for credit losses as required. Changes in the allowance for credit losses are recorded as a provision for (or reversal of) credit loss expense in the Consolidated Statement of Operations. Losses are charged against the allowance when management believes the uncollectibility of a previously provisioned amount is confirmed. ASC 842 Leases (adopted at January 1, 2019) The new leasing standard (ASC 842 'Leases') was effective and adopted by ICON from January 1, 2019. ASC 842 'Leases' supersedes the requirements in ASC 840 'Leases' and requires that lessees recognize rights and obligations from virtually all leases (other than leases that meet the definition of a short-term lease) on their balance sheets as right-of-use assets with corresponding lease liabilities. The ASU also provides additional guidance on how to classify leases and how to determine the lease term for accounting purposes. ICON adopted the new standard under the cumulative effect adjustment approach. Under this transition method, the new standard is applied from January 1, 2019 without restatement of comparative period amounts. Operating lease liabilities and right-of-use assets of $106.5 million were recorded on the Condensed Consolidated Balance Sheet as at January 1, 2019. There was no impact of adopting ASC 842 on opening retained earnings at January 1, 2019.

Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue disaggregated by customer profile is as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)

Top client	$	81,267	$	99,994
Clients 2-5	203,741		169,339
Clients 6-10	88,191		89,067
Clients 11-25	124,618		124,826
Other	217,285		191,626

Total	$	715,102	$	674,852

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities) (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Contracts with Customers, Asset and Liabilities

Accounts receivables and unbilled revenue are as follows:



	March 31, 2020			December 31, 2019
	(in thousands)
Contract assets:
Billed services (accounts receivable)	$	535,080		$	535,088
Unbilled services (unbilled revenue)	446,465			422,769
Accounts receivable and unbilled revenue	981,545			957,857
Allowance for credit losses	(9,438		)	—
Allowance for doubtful debts	—			(7,380		)

Accounts receivable and unbilled revenue, net	$	972,107		$	950,477

Unbilled services and unearned revenue or payments on account (contract assets and liabilities) were as follows:



(in thousands, except percentages)	March 31, 2020			December 31, 2019			$ Change			% Change

Unbilled services (unbilled revenue)	$	446,465		$	422,769		$	23,696		5.6	%
Unearned revenue (payments on account)	(386,242		)	(366,988		)	(19,254		)	5.2	%

Net balance	$	60,223		$	55,781		$	4,442		8.0	%

Goodwill (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill



	Three Months Ended			Year Ended
	March 31, 2020			December 31, 2019
	(in thousands)
Opening balance	$	883,170		$	756,260
Current period acquisitions (Note 6)	25,411			126,932
Prior period acquisitions	(70		)	—
Foreign exchange movement	(15,478		)	(22		)

Closing balance	$	893,033		$	883,170

Business combinations (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Schedule of Summary of Estimates of Fair Values of Assets Acquired and Liabilities Assumed



	May 23,
	2019
	(in thousands)
Cash & cash equivalents	$	7,719
Property, plant and equipment	670
Operating right of use assets	1,558
Goodwill *	81,567
Customer relationships **	3,887
Order backlog **	171
Patient database **	2,542
Accounts receivable	3,488
Unbilled revenue	4,272
Other receivables	819
Prepayments and other current assets	406
Accounts payable	(5,484		)
Unearned revenue	(5,796		)
Other liabilities	(6,605		)
Current lease liabilities	(430		)
Non-current lease liabilities	(1,128		)
Non-current deferred tax liability	(1,380		)

Net assets acquired	$	86,276

Cash outflows	$	54,123
Working capital adjustment receivable	(439		)
Redeemable noncontrolling interest ***	32,592

Total consideration	$	86,276

The following table summarizes the Company’s fair values of the assets acquired and liabilities assumed:



	January, 25
	2019
	(in thousands)
Cash & cash equivalent	$	686
Property, plant and equipment	1,697
Operating right of use assets	2,866
Goodwill *	22,430
Customer relationships	10,708
Order backlog	2,787
Accounts receivable	3,100
Unbilled revenue	2,421
Other receivables	43
Prepayments and other current assets	908
Deferred tax asset	1,568
Accounts payable	(1,280		)
Unearned revenue	(540		)
Other liabilities	(1,232		)
Current lease liabilities	(699		)
Non-current lease liabilities	(2,167		)
Non-current other liabilities	(1,123		)

Net assets acquired	$	42,173

Cash outflows	$	42,349
Working capital adjustment	(176		)

Total consideration	$	42,173



	September 24,
	2019
	(in thousands)
Cash & cash equivalents	$	3,292
Property, plant and equipment	564
Operating right of use assets	820
Goodwill *	22,865
Customer relationships **	8,159
Order backlog **	2,163
Accounts receivable	3,579
Unbilled revenue	186
Prepayments and other current assets	181
Other receivables	6
Accounts payable	(799		)
Unearned revenue	(1,446		)
Other liabilities	(933		)
Current lease liabilities	(289		)
Non-current lease liabilities	(531		)

Net assets acquired	$	37,817

Cash outflows	$	34,976
Working capital adjustment paid	341
Contingent consideration payable ***	2,500

Total consideration	$	37,817



	January 22,
	2020
	(in thousands)
Cash & cash equivalents	$	10,170
Property, plant and equipment	45
Operating right of use assets	1,362
Goodwill *	25,411
Intangible asset **	16,570
Accounts receivable	2,825
Prepayments and other current assets	158
Accounts payable	(368		)
Unearned revenue	(206		)
Other liabilities	(2,973		)
Current lease liabilities	(293		)
Non-current lease liabilities	(1,069		)
Non-current deferred tax liability	(4,640		)

Net assets acquired	$	46,992

Cash outflows	$	46,992
Contingent consideration ***	—

Total consideration	$	46,992

Restructuring (Tables)

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Details of Movement in Restructuring Provisions Recognized



	Workforce reductions			Onerous Lease			Total
	(in thousands)
Initial restructuring charge recorded	$	9,684		$	2,806		$	12,490
Utilization	(5,399		)	(672		)	(6,071		)
Provision at December 31, 2018	$	4,285		$	2,134		$	6,419
Utilization	(3,554		)	(1,228		)	(4,782		)
Provision at December 31, 2019	$	731		$	906		$	1,637
Utilization	(430		)	(186		)	(616		)
Provision at March 31, 2020	$	301		$	720		$	1,021

Operating leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of Lease Costs

Lease costs recorded under operating leases for the three months ended March 31, 2020 were as follows:



	Three Months Ended
	March 31, 2020			March 31, 2019
	(in thousands)
Operating lease costs	8,089			8,655
Income from sub-leases	(268		)	(520		)
Net operating lease costs	$	7,821		$	8,135

Schedule of Operating Lease Maturity

Future minimum lease payments under non-cancelable leases as of March 31, 2020 were as follows:



	Minimum rental payments
	(in thousands)
	March 31, 2020
Due within 1 year	$	27,339
Due between 1 and 5 years	63,599
Thereafter	16,398
Total future minimum lease payments	107,336
Lease imputed interest	(7,726		)
Total	$	99,610

Income taxes (Tables)

3 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

Income taxes recognized during the three months ended March 31, 2020 and March 31, 2019, comprise:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Provision for income taxes	$	12,590	$	12,040

Net income per ordinary share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The reconciliation of the number of shares used in the computation of basic and diluted net income per ordinary share is as follows:



	Three Months Ended
	March 31, 2020	March 31, 2019
Weighted average number of ordinary shares outstanding for basic net income per ordinary share	53,348,355	53,845,407
Effect of dilutive share options outstanding	556,667	297,103
Weighted average number of ordinary shares outstanding for diluted net income per ordinary share	53,905,022	54,142,510



	Three Months Ended
	March 31, 2020			March 31, 2019
	(in thousands)
Net income attributable to the Group	$	91,696		$	88,297
Noncontrolling interest adjustment to redemption amount	(4,522		)	—
Net income attributable to the Group (including NCI redemption adjustment)	$	87,174		$	88,297

	Three Months Ended
	March 31, 2020			March 31, 2019
Net income per Ordinary Share attributable to the Group (including NCI redemption adjustment):
Basic	$	1.63		$	1.64
Diluted	$	1.62		$	1.63

Share-based awards (Tables)

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share Option Activity

The following table summarizes option activity for the three months ended March 31, 2020:



	Options Outstanding Number of Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life
Outstanding at December 31, 2019	656,107		$	87.80	$	26.60	4.76
Granted	100,207		$	159.33	$	42.11
Exercised	(31,964	)	$	26.95	$	10.82
Canceled/expired	(1,330	)	$	22.30	$	9.72

Outstanding at March 31, 2020	723,020		$	100.52	$	29.48	5.17

Exercisable at March 31, 2020	365,707		$	79.57	$	23.91	4.06

Schedule of Movement in Non-vested Share Options

The following table summarizes the movement in non-vested share options for the three months ended March 31, 2020:



	Options Outstanding Number of Shares		Weighted Average Exercise Price		Weighted Average Grant Date Fair Value
Non-vested outstanding at December 31, 2019	358,030		$	103.68	$	31.28

Granted	100,207		$	159.33	$	42.11
Vested	(100,924	)	$	94.22	$	28.20
Forfeited	—		$	—	$	—

Non-vested outstanding at March 31, 2020	357,313		$	121.96	$	35.19

Schedule of Weighted Average Fair Values and Assumptions Used

The weighted average grant date fair values and assumptions used were as follows:



	Three Months Ended
	March 31, 2020			March 31, 2019
Weighted average grant date fair value	$	42.11		$	43.59
Assumptions:
Expected volatility	28		%	30		%
Dividend yield	—		%	—		%
Risk-free interest rate	0.78		%	2.59		%
Expected life	5 years			5 years

Schedule of RSU and PSU Activity

The following table summarizes RSU and PSU activity for the three months ended March 31, 2020:



	PSU Outstanding Number of Shares		PSU Weighted Average Grant Date Fair Value		PSU Weighted Average Remaining Contractual Life	RSU Outstanding Number of Shares		RSU Weighted Average Grant Date Fair Value		RSU Weighted Average Remaining Contractual Life
Outstanding at December 31, 2019	175,989		$	110.79	1.04	389,900		$	119.07	1.43

Granted	52,960		$	159.33		23,238		$	159.33
Shares vested	(59,192	)	$	83.47		(30,607	)	$	106.77
Forfeited	(182	)	$	83.47		(4,554	)	$	111.07

Outstanding at March 31, 2020	169,575		$	135.50	1.81	377,977		$	122.64	1.33

Schedule of Non-cash Stock Compensation Expense

Non-cash stock compensation expense for the three months ended March 31, 2020 and March 31, 2019 has been allocated as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Direct costs	$	1,835	$	3,901
Selling, general and administrative	4,234		3,178

	$	6,069	$	7,079

Business segment information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Distribution of Revenue by Geographical Area

The distribution of revenue by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland *	$	314,972	$	298,483
Rest of Europe	102,431		90,445
U.S.	225,467		218,540
Rest of World	72,232		67,384

Total	$	715,102	$	674,852

* All sales shown for Ireland are export sales.

Distribution of Income from Operations by Geographical Area

The distribution of income from operations including restructuring by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland	$	73,935	$	70,621
Rest of Europe	10,696		5,850
U.S.	13,891		17,107
Rest of World	7,769		8,368

Total	$	106,291	$	101,946

Distribution of Long-lived Assets, Net, by Geographical Area

The distribution of long-lived assets (including right-of-use assets), net, by geographical area was as follows:



	March 31, 2020		December 31, 2019
	(in thousands)
Ireland	$	107,684	$	110,522
Rest of Europe	40,398		41,970
U.S.	69,686		72,578
Rest of World	44,323		44,994

Total	$	262,091	$	270,064

Distribution of Depreciation and Amortization by Geographical Area

The distribution of depreciation, amortization and reduction in carrying value of the right-of-use assets by geographical area was as follows:



	Three Months Ended
	March 31, 2020		March 31, 2019
	(in thousands)
Ireland	$	8,241	$	7,890
Rest of Europe	3,815		3,437
U.S.	8,639		7,641
Rest of World	2,955		3,975

Total	$	23,650	$	22,943

Distribution of Total Assets by Geographical Area

The distribution of total assets by geographical area was as follows:



	March 31, 2020		December 31, 2019
	(in thousands)
Ireland	$	1,625,180	$	1,323,181
Rest of Europe	615,734		660,797
U.S.	417,718		755,271
Rest of World	182,700		168,263

Total	$	2,841,332	$	2,907,512

Significant accounting policies (Details) - USD ($)	Mar. 31, 2020	Mar. 09, 2020	Dec. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Liability due to former noncontrolling interest holders	$ 435,862,000		$ 378,543,000
Operating lease liabilities	99,610,000
Operating right-of-use assets	99,251,000		104,977,000
Shareholders' equity	1,513,852,000		1,618,055,000
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease liabilities				$ 106,500,000
Operating right-of-use assets				106,500,000
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity	1,022,260,000		$ 1,110,226,000
Retained Earnings \| Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shareholders' equity				$ 0
MeDiNova
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of interest acquired		100.00%
Liability due to former noncontrolling interest holders	$ 42,600,000

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 715,102	$ 674,852
Top client
Disaggregation of Revenue [Line Items]
Revenue	81,267	99,994
Clients 2-5
Disaggregation of Revenue [Line Items]
Revenue	203,741	169,339
Clients 6-10
Disaggregation of Revenue [Line Items]
Revenue	88,191	89,067
Clients 11-25
Disaggregation of Revenue [Line Items]
Revenue	124,618	124,826
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 217,285	$ 191,626

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities) - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Billed services (accounts receivable)	$ 535,080	$ 535,088
Unbilled services (unbilled revenue)	446,465	422,769
Accounts receivable and unbilled revenue	981,545	957,857
Allowance for credit losses	(9,438)	(7,380)
Accounts receivable and unbilled revenue, net	972,107	950,477
Unearned revenue (payments on account)	(386,242)	(366,988)
Net balance	60,223	$ 55,781
Change in unbilled services (unbilled revenue)	23,696
Change in unearned revenue (payments on account)	(19,254)
Change in net balance	$ 4,442
Change in unbilled services (unbilled revenue), percent	5.60%
Change in unearned revenue (payments on account), percent	5.20%
Change in net balance, percent	8.00%

Accounts receivable, unbilled revenue (contract assets) and unearned revenue or payments on account (contract liabilities) - Revenue Remaining Performance Obligations (Details) $ in Billions	Mar. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation	$ 5.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percent	43.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Opening balance	$ 883,170	$ 756,260
Current period acquisitions (Note 6)	25,411	126,932
Prior period acquisitions	(70)	0
Foreign exchange movement	(15,478)	(22)
Closing balance	$ 893,033	$ 883,170

Business combinations (Details) - USD ($)					3 Months Ended
Business combinations (Details) - USD ($)	Jan. 22, 2020	Sep. 24, 2019	May 23, 2019	Jan. 25, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 09, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill					$ 893,033,000			$ 883,170,000	$ 756,260,000
Cash outflows					47,333,000	$ 42,349,000
Medpass
Business Acquisition [Line Items]
Percentage of share capital acquired	100.00%
Cash & cash equivalents	$ 10,170,000
Property, plant and equipment	45,000
Operating right of use assets	1,362,000
Goodwill	25,411,000
Intangible asset	16,570,000
Accounts receivable	2,825,000
Prepayments and other current assets	158,000
Accounts payable	(368,000)
Unearned revenue	(206,000)
Other liabilities	(2,973,000)
Current lease liabilities	(293,000)
Non-current lease liabilities	(1,069,000)
Non-current deferred tax liability	(4,640,000)
Net assets acquired	46,992,000
Cash outflows	46,992,000
Contingent consideration	0				0
Total consideration	46,992,000
Goodwill expected to be tax deductible	0
Contingent consideration, maximum amount	$ 6,700,000
Symphony
Business Acquisition [Line Items]
Percentage of share capital acquired		100.00%
Cash & cash equivalents		$ 3,292,000
Property, plant and equipment		564,000
Operating right of use assets		820,000
Goodwill		22,865,000
Accounts receivable		3,579,000
Unbilled revenue		186,000
Prepayments and other current assets		181,000
Other receivables		6,000
Accounts payable		(799,000)
Unearned revenue		(1,446,000)
Other liabilities		(933,000)
Current lease liabilities		(289,000)
Non-current lease liabilities		(531,000)
Net assets acquired		37,817,000
Cash outflows		34,976,000
Working capital adjustment		341,000
Contingent consideration		2,500,000			$ 1,000,000.0
Total consideration		37,817,000
MeDiNova
Business Acquisition [Line Items]
Percentage of interest acquired							100.00%
Cash & cash equivalents			$ 7,719,000
Property, plant and equipment			670,000
Operating right of use assets			1,558,000
Goodwill			81,567,000
Accounts receivable			3,488,000
Unbilled revenue			4,272,000
Prepayments and other current assets			406,000
Other receivables			819,000
Accounts payable			(5,484,000)
Unearned revenue			(5,796,000)
Other liabilities			(6,605,000)
Current lease liabilities			(430,000)
Non-current lease liabilities			(1,128,000)
Non-current deferred tax liability			(1,380,000)
Net assets acquired			86,276,000
Cash outflows			54,123,000
Working capital adjustment			(439,000)
Redeemable noncontrolling interest			32,592,000
Total consideration			86,276,000
Goodwill expected to be tax deductible			0
MMD
Business Acquisition [Line Items]
Percentage of share capital acquired				100.00%
Cash & cash equivalents				$ 686,000
Property, plant and equipment				1,697,000
Operating right of use assets				2,866,000
Goodwill				22,430,000
Accounts receivable				3,100,000
Unbilled revenue				2,421,000
Prepayments and other current assets				908,000
Other receivables				43,000
Deferred tax asset				1,568,000
Accounts payable				(1,280,000)
Unearned revenue				(540,000)
Other liabilities				(1,232,000)
Current lease liabilities				(699,000)
Non-current lease liabilities				(2,167,000)
Net assets acquired				42,173,000
Cash outflows				42,349,000
Working capital adjustment				(176,000)
Non-current other liabilities				(1,123,000)
Total consideration				42,173,000
Goodwill expected to be tax deductible				0
Customer relationships \| Symphony
Business Acquisition [Line Items]
Intangible asset		8,159,000
Customer relationships \| MeDiNova
Business Acquisition [Line Items]
Intangible asset			3,887,000
Customer relationships \| MMD
Business Acquisition [Line Items]
Intangible asset				10,708,000
Order backlog \| Symphony
Business Acquisition [Line Items]
Intangible asset		$ 2,163,000
Order backlog \| MeDiNova
Business Acquisition [Line Items]
Intangible asset			171,000
Order backlog \| MMD
Business Acquisition [Line Items]
Intangible asset				$ 2,787,000
Patient database \| MeDiNova
Business Acquisition [Line Items]
Intangible asset			$ 2,542,000

Restructuring - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
Restructuring - Narrative (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0	$ 0
Other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, current	600,000
Non-current other liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, noncurrent	$ 400,000
Resource Rationalizations 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 12,490,000
Resource Rationalizations 2018 \| Workforce Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			9,684,000
Resource Rationalizations 2018 \| Onerous Lease
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 2,806,000

Restructuring - Restructuring Rollforward (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 0	$ 0
Resource Rationalizations 2018
Restructuring Reserve [Roll Forward]
Restructuring charges				$ 12,490,000
Provision, beginning balance	1,637,000	6,419,000	$ 6,419,000
Utilization	(616,000)		(4,782,000)	(6,071,000)
Provision, ending balance	1,021,000		1,637,000	6,419,000
Resource Rationalizations 2018 \| Workforce Reduction
Restructuring Reserve [Roll Forward]
Restructuring charges				9,684,000
Provision, beginning balance	731,000	4,285,000	4,285,000
Utilization	(430,000)		(3,554,000)	(5,399,000)
Provision, ending balance	301,000		731,000	4,285,000
Resource Rationalizations 2018 \| Onerous Lease
Restructuring Reserve [Roll Forward]
Restructuring charges				2,806,000
Provision, beginning balance	906,000	$ 2,134,000	2,134,000
Utilization	(186,000)		(1,228,000)	(672,000)
Provision, ending balance	$ 720,000		$ 906,000	$ 2,134,000

Operating leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease costs	$ 8,089	$ 8,655
Income from sub-leases	(268)	(520)
Net operating lease costs	$ 7,821	$ 8,135

Operating leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Total lease cost	$ 7,821	$ 8,135
Right-of-use assets obtained in exchange for lease obligations	$ 4,300	13,000
Weighted average remaining lease term (in years)	5 years 1 month 9 days
Weighted average discount rate	2.86%
Other liabilities
Lessee, Lease, Description [Line Items]
Operating lease liabilities	$ 24,800	28,100
Selling, general and administration costs
Lessee, Lease, Description [Line Items]
Total lease cost	7,100	7,200
Direct costs
Lessee, Lease, Description [Line Items]
Total lease cost	$ 700	$ 900

Operating leases - Operating Lease Maturity (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Leases [Abstract]
Due within 1 year	$ 27,339
Due between 1 and 5 years	63,599
Thereafter	16,398
Total future minimum lease payments	107,336
Lease imputed interest	(7,726)
Operating lease liabilities	$ 99,610

Income taxes - Income Taxes Recognized During Period (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 12,590	$ 12,040

Income taxes - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Liability for unrecognized tax benefit	$ 21.2	$ 21.3
Items generating unrecognized tax benefits	20.1	20.2
Interest and related penalties	$ 1.1	$ 1.1

Net income per ordinary share - Reconciliation of Number of Shares Used in Computation of Basic and Diluted Net Income Per Ordinary Share (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Weighted average number of ordinary shares outstanding for basic net income per ordinary share (in shares)	53,348,355	53,845,407
Effect of dilutive share options outstanding (in shares)	556,667	297,103
Weighted average number of ordinary shares outstanding for diluted net income per ordinary share (in shares)	53,905,022	54,142,510

Net income per ordinary share - Reconciliation of Net Income Attributable to the Group and Net Income Attributable To the Group (Including NCI Redemption Amount) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 91,696	$ 88,297
Noncontrolling interest adjustment to redemption amount	(4,522)	0
Net income attributable to the Group (including NCI redemption adjustment)	$ 87,174	$ 88,297
Net income per Ordinary Share attributable to the Group (including NCI redemption adjustment):
Basic (USD per share)	$ 1.63	$ 1.64
Diluted (USD per share)	$ 1.62	$ 1.63

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=116637232&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Share-based awards - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended		12 Months Ended
	Feb. 14, 2017	May 11, 2015	Jan. 17, 2003	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	May 16, 2019	Feb. 13, 2017
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Non-cash stock compensation expense not yet recognized				$ 50.7
Unrecognized stock-based compensation expense, weighted average period				2 years 5 months 23 days
Consultants Stock Plan, 2008 Plan
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Ordinary shares which have been reserved for issuance (in shares)	1,000,000.0							400,000
Limit of shares issued or to be issued pursuant to options granted (in shares)	1,000,000.0
Employee Stock Plan, 2008 Plan
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Ordinary shares which have been reserved for issuance (in shares)	6,000,000.0
Maximum number of shares per employee (in shares)	400,000
Option Plans 2008 \| Minimum
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Percentage of option price for fair value of ordinary share	100.00%
Employee Stock Plan, 2003 Plan
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Ordinary shares which have been reserved for issuance (in shares)			6,000,000.0
Maximum number of shares per employee (in shares)			400,000
Maximum number of award as percentage of shares outstanding			10.00%
Employee Stock Option
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted average contractual term of options outstanding				5 years 2 months 1 day		4 years 9 months 3 days
Weighted average fair value per option (USD per share)				$ 18.95
Exercisable - number of shares				365,707
Exercisable - weighted average remaining contractual life				4 years 21 days
Exercisable - weighted average exercise price (USD per share)				$ 79.57
Fully vested total intrinsic value				$ 20.7
Intrinsic value of option exercised				$ 3.5	$ 5.4
Employee Stock Option \| Minimum
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Options outstanding fair value (USD per share)				$ 9.72
Employee Stock Option \| Maximum
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Weighted average contractual term of options outstanding				8 years
Options outstanding fair value (USD per share)				$ 43.59
Restricted Stock Units 2013
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Ordinary shares which have been reserved for issuance (in shares)		4,100,000
Ordinary shares which have been reserved for issuance (in shares)		2,500,000
Consultants Restricted Stock Units 2019
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Ordinary shares which have been reserved for issuance (in shares)							250,000
Performance Share Unit (PSUs)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Fair value of stock units vested				$ 4.9		$ 16.5
Restricted Stock Units (RSUs)
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Fair value of stock units vested				$ 3.3		$ 8.5
PSUs Based on Service and EPS Targets \| Maximum
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Stock units to be granted (in shares)				78,274
Award Date, All years excluding 2018 \| Employee Stock Option
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Shares vesting period				5 years
Shares expiration period				8 years
Non-executive directors \| Consultants Restricted Stock Units 2019
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Shares vesting period				12 months
Non-executive directors \| Award Date, 2018 \| Employee Stock Option
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Shares vesting period				12 months
Shares expiration period				8 years

Share-based awards - Summary of Stock Option Activity (Details) - Employee Stock Option - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Options Outstanding Number of Shares
Outstanding at beginning of period (in shares)	656,107
Granted (in shares)	100,207
Exercised (in shares)	(31,964)
Canceled/expired (in shares)	(1,330)
Outstanding at end of period (in shares)	723,020		656,107
Exercisable at end of period (in shares)	365,707
Weighted Average Exercise Price
Outstanding at beginning of period (USD per share)	$ 87.80
Granted (USD per share)	159.33
Exercised (USD per share)	26.95
Canceled/expired (USD per share)	22.30
Outstanding at end of period (USD per share)	100.52		$ 87.80
Exercisable at end of period (USD per share)	79.57
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (USD per share)	26.60
Granted (USD per share)	42.11	$ 43.59
Exercised (USD per share)	10.82
Canceled/expired (USD per share)	9.72
Outstanding at end of period (USD per share)	29.48		$ 26.60
Exercisable at end of period (USD per share)	$ 23.91
Weighted Average Remaining Contractual Life
Outstanding at end of period (in years)	5 years 2 months 1 day		4 years 9 months 3 days
Exercisable at end of period (in years)	4 years 21 days

Share-based awards - Summary of Movement in Non-Vested Share Options (Details) - Employee Stock Option - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Options Outstanding Number of Shares
Non-vested outstanding at beginning of period (in shares)	358,030
Granted (in shares)	100,207
Vested (in shares)	(100,924)
Forfeited (in shares)	0
Non-vested outstanding at end of period (in shares)	357,313
Weighted Average Exercise Price
Non-vested outstanding at beginning of period (USD per share)	$ 103.68
Granted (USD per share)	159.33
Vested (USD per share)	94.22
Forfeited (USD per share)	0
Non-vested outstanding at end of period (USD per share)	121.96
Weighted Average Grant Date Fair Value
Non-vested outstanding at beginning of period (USD per share)	31.28
Granted (USD per share)	42.11	$ 43.59
Vested (USD per share)	28.20
Forfeited (USD per share)	0
Non-vested outstanding at end of period (USD per share)	$ 35.19

Share-based awards - Schedule of Weighted Average Fair Values and Assumptions Used (Details) - Employee Stock Option - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 42.11	$ 43.59
Assumptions:
Expected volatility	28.00%	30.00%
Dividend yield	0.00%	0.00%
Risk-free interest rate	0.78%	2.59%
Expected life	5 years	5 years

Share-based awards - Summary of RSU and PSU Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Performance Share Unit (PSUs)
Outstanding Number of Shares
Outstanding at beginning of period (in shares)	175,989
Granted (in shares)	52,960
Shares vested (in shares)	(59,192)
Forfeited (in shares)	(182)
Outstanding at end of period (in shares)	169,575	175,989
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (USD per share)	$ 110.79
Granted (USD per share)	159.33
Shares vested (USD per share)	83.47
Forfeited (USD per share)	83.47
Outstanding at end of period (USD per share)	$ 135.50	$ 110.79
Weighted Average Remaining Contractual Life
Outstanding at end of period (in years)	1 year 9 months 21 days	1 year 14 days
Restricted Stock Units (RSUs)
Outstanding Number of Shares
Outstanding at beginning of period (in shares)	389,900
Granted (in shares)	23,238
Shares vested (in shares)	(30,607)
Forfeited (in shares)	(4,554)
Outstanding at end of period (in shares)	377,977	389,900
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (USD per share)	$ 119.07
Granted (USD per share)	159.33
Shares vested (USD per share)	106.77
Forfeited (USD per share)	111.07
Outstanding at end of period (USD per share)	$ 122.64	$ 119.07
Weighted Average Remaining Contractual Life
Outstanding at end of period (in years)	1 year 3 months 29 days	1 year 5 months 4 days

Share-based awards - Schedule of Non-cash Stock Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 6,069	$ 7,079
Direct costs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	1,835	3,901
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 4,234	$ 3,178

Share capital (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
Share capital (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2020	Dec. 31, 2019	Jan. 08, 2019
Equity, Class of Treasury Stock [Line Items]
Shares redeemed, value		$ 175,000
Buyback Program
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, number of shares authorized to be repurchased (in shares)				1,000,000.0
Shares redeemed, value	$ 5,300	$ 175,000	$ 141,600
Shares redeemed (in shares)	35,100	1,235,218
Buyback Program \| Maximum
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, authorized percentage		10.00%

Business segment information - Narrative (Details)	3 Months Ended
Business segment information - Narrative (Details)	Mar. 31, 2020 segment
Segment Reporting [Abstract]
Number of operating segments	1

Business segment information - Distribution of Revenue by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Revenue	$ 715,102	$ 674,852
Ireland
Segment Reporting Information [Line Items]
Revenue	314,972	298,483
Rest of Europe
Segment Reporting Information [Line Items]
Revenue	102,431	90,445
U.S.
Segment Reporting Information [Line Items]
Revenue	225,467	218,540
Rest of World
Segment Reporting Information [Line Items]
Revenue	$ 72,232	$ 67,384

Business segment information - Distribution of Income from Operations, Including Restructuring, by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Income from operations, including restructuring	$ 106,291	$ 101,946
Ireland
Segment Reporting Information [Line Items]
Income from operations, including restructuring	73,935	70,621
Rest of Europe
Segment Reporting Information [Line Items]
Income from operations, including restructuring	10,696	5,850
U.S.
Segment Reporting Information [Line Items]
Income from operations, including restructuring	13,891	17,107
Rest of World
Segment Reporting Information [Line Items]
Income from operations, including restructuring	$ 7,769	$ 8,368

Business segment information - Distribution of Long-lived Assets, Net, by Geographical Area (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Long-lived assets, net	$ 262,091	$ 270,064
Ireland
Segment Reporting Information [Line Items]
Long-lived assets, net	107,684	110,522
Rest of Europe
Segment Reporting Information [Line Items]
Long-lived assets, net	40,398	41,970
U.S.
Segment Reporting Information [Line Items]
Long-lived assets, net	69,686	72,578
Rest of World
Segment Reporting Information [Line Items]
Long-lived assets, net	$ 44,323	$ 44,994

Business segment information - Distribution of Depreciation and Amortization by Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Depreciation, amortization and reduction in carrying value of right-of-use assets	$ 23,650	$ 22,943
Ireland
Segment Reporting Information [Line Items]
Depreciation, amortization and reduction in carrying value of right-of-use assets	8,241	7,890
Rest of Europe
Segment Reporting Information [Line Items]
Depreciation, amortization and reduction in carrying value of right-of-use assets	3,815	3,437
U.S.
Segment Reporting Information [Line Items]
Depreciation, amortization and reduction in carrying value of right-of-use assets	8,639	7,641
Rest of World
Segment Reporting Information [Line Items]
Depreciation, amortization and reduction in carrying value of right-of-use assets	$ 2,955	$ 3,975

Business segment information - Distribution of Total Assets by Geographical Area (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Assets	$ 2,841,332	$ 2,907,512
Ireland
Segment Reporting Information [Line Items]
Assets	1,625,180	1,323,181
Rest of Europe
Segment Reporting Information [Line Items]
Assets	615,734	660,797
U.S.
Segment Reporting Information [Line Items]
Assets	417,718	755,271
Rest of World
Segment Reporting Information [Line Items]
Assets	$ 182,700	$ 168,263